Why Ice Floats. A substance floats if it is less dense, or has less mass per unit volume, than other components in a mixture. For example, if you toss a handful of rocks into a bucket of water, the rocks, which are dense compared to the water, will sink. The water, which is less dense than the rocks, will float.
What is the effective annual rate? 2) You want to buy a new sports car from Muscle Motors for $53,000. The contract... show more 1) Big Dom's Pawn Shop charges an interest rate of 16 percent per month on loans to its customers. Like all lenders, Big Dom must report an APR to consumers.
The study, released this week by the Pew Charitable Trusts, found their rates are so high mainly because they're among only seven states that impose no legal limits on them. Idaho payday lenders charge an average 582% annual interest on their loans to lead the nation, The Salt Lake Tribune reported. That's followed by South Dakota and Wisconsin, both 574%; Nevada, 521%; Delaware, 517%; and Utah, 474%. Among states with storefront payday lenders, the lowest average interest charged is Colorado at 129%, which matches its legal limit. The next lowest are Oregon at 156% and Maine at 217%. Fifteen states either ban payday loans or cap interest rates at 36%. None of them has any storefront lenders. Without a limit on interest rates, competition among lenders does not tend to lower rates much, according to the research.